Bulgarian MPs Approve Tough Measures for False Bank Info

Lawmakers gave first-reading green light to changes to the Penal Code envisaging up to 10 years of imprisonment for spreading misleading information on banks.

But some MPs argue some sections of the draft text should be more precisely defined.

Under amendment proposals submitted by Bulgaria's central bank BNB, those disseminating information potentially leading to a surge of panic among citizens could face between two and five years behind bars.

If such activity results in substantial damage to other people or illegally gives financial advantage to perpetrators, the latter could spend between five years and a decade in jail.

BNB's suggestions also include a BGN 5000 to 10 000 (EUR 2500 to 5000) fine.